ALBANY, New York — The state’s utility regulator approved higher costs for Con Edison customers despite opposition from some New York City elected officials concerned about affordability.
The Public Service Commission approved a three-year rate increase for Con Ed at their monthly meeting Thursday. The hike will hit customer bills starting this month with a roughly 4 percent increase for typical electric customers in the city and 2.4 percent for gas customers.
Con Ed serves more than 3.4 million electric and 1.1 million gas customers in New York City and Westchester County.
The increase will pay for investments to maintain the electric and gas system as well as accommodate growing electricity demand, including that driven by local and state policies. Public Service Commission Chair Rory Christian said the increase is the result of compromises and pushed back on critics.
